The U.S. Energy Information Administration (EIA) revealed on Wednesday that crude inventories fell by 9.362 million barrels in the week ended August 28. Economists had forecast a decrease of 1.887 million barrels.

At the same time, gasoline stocks dropped by 4.320 million barrels, while analysts had expected a decline of 3.036 million barrels. Distillate stocks fell by 1.676 million barrels, while analysts had forecast a drop of 1.357 million barrels.

Meanwhile, oil production in the U.S. tumbled by 1,100,000 barrels a day to 9.700 million barrels a day.

U.S. crude oil imports averaged 4.9 million barrels per day last week, decreased by 1.0 million barrels per day from the previous week.